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Lynn Johannson, Advisor, Sustainability and ESG
January 4th, 2024
Lynn Johannson, President of E2 Management Corporation and Catalyst for THE Collaboration
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‘Fearless Girl’ creator sells NFTs to cover $3M legal fees
New York Post | Jessica Cherner | May 23, 2022
The famous “Fearless Girl” statue has been touted as a unique symbol of inspiration for women’s equality. But, it turns out, she’s not exactly one of a kind.
Kristen Visbal, the artist behind the 50.4-inch-tall bronze sculpture — a young girl assuming Superman’s iconic stance, originally as she faced off against Wall Street’s charging bull — is facing a breach of contract lawsuit from State Street Global Advisors, the asset-management firm that commissioned the piece in 2017, for copying her own work. So she’s decided to double down and sell even more “Fearless Girl” replicas, as well as NFTs, to cover her reported $3 million court costs.
The NFTs, which feature “Fearless Girl” in different positions and sometimes with slightly varying hairstyles, are being sold in five stages on NFT marketplace OpenSea. The first, dubbed the “Interstellar Collection” and now available in a limited edition of 125, goes for 3.57 ETH ($7,235). It includes a short film of a comet racing through space, erupting on a city sidewalk and transforming into the “Fearless Girl,” as well as a 22-inch replica of the statue.
See: UK Court recognizes NFTs as ‘private property’
The artist was sued by State Street in 2019, after she created 25 full-size bronze replicas of “Fearless Girl” and sold eight of them for $250,000 each. Visbal also sold some 100 miniature versions for around $6,000 a pop.
A spokesman for State Street Global Advisors said, “In short, the allegations of breach include Ms. Visbal’s sale of a ‘Fearless Girl’ replica to a class action law firm and two financial companies in Australia, all of which is a breach of a clause in the contract that requires both parties’ approval before sale. The sale also violates SSGA’s exclusive intellectual property (copyright and trademark) rights.” In its court filing, the company claims that the artist has caused “substantial and irreparable harm” to both “Fearless Girl” and to State Street by creating and selling copies.
But a defiant Visbal, who lives in Rehoboth, Del., told The Post: “I didn’t make her for any company. I made her to celebrate women and for the public at large.”
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